tv The Daily Show With Jon Stewart Comedy Central July 26, 2012 7:25pm-7:55pm PDT
from comedy central's world news headquarters in new york, this is the "daily show" with jon stewart ( cheers and applause ) captioning sponsored by comedy central ( theme song playing ) ( cheers and applause ) >> jon: welcome to "the daily show." my name is jon stewart. guest tonight author joseph stiglitz, author of the new book "the price of inequality," which is also the worst game show ever. ( laughter ) let's begin tonight with our election coverage. democalypse 2012.
do we look stupid? don't answer that, edition. we touched on this a little bit last night. there's an old saying in washington a gap is when a politician accidentally tells the truth. recently, president barack obama made a new type of gaffe when he told the truth on purpose. >> if you were successful, somebody along the line gave you some help. there was a great teacher somewhere in your life. somebody helped to create this unbelievable american system that we have that allowed to you thrive. somebody invested in roads and bridges. >> jon: argument made in apparently a comedy club of hecklers, that your success also owes some debt to the system and infrastructure created to support your endeavor. and that's the debt that it owes is what we call taxes. that's supposed to go back into the system. pretty unremarkable observation about life in society. here's the gaffe.
>> somebody invested in roads and bridges. if you got a business, you didn't build that. somebody else made that what that. >> jon: what! whoa! what! whoa! what! whoa! what! whoa! no! did you-- president obama, are you saying people who built businesses they didn't build that, that business, that-- are you inexplicably and unpresidently in the middle of a now banal populist run delivering a nut punch to small business owners? is that your point, sir? >> the point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together. >> jon: oh, that's your point. ( laughter ). hmmm. here's a tip-- when someone says, "the point is..." the next thing they say usually, nine times out of 10, is the point. ( laughter ) but i see what happened here.
by using the phrase "you didn't build that," you create confusion by using the demonstrative single pronoun that instead of the plural anaphase those, which of course was referring to the antecedent roads and bridges-- oh, my butt gust gave itself a wedgy. my butt is giving myself a grammar wedgy. why would do that! but you're inan meat and i'm wearing you. why would you do that? it is true, though, especially in politics. never say "that," because the singular demonstrative pronoun points to a specific finger. always use the plural "those." then you don't get in trouble. instead of saying this. >> i did not have sexual relations with that woman. ( laughter ). >> jon: see, that specific woman-- what you want to say is, "i did not have sex with those
women, those women." that-- wait ( cheers and applause ) no, that's-- okay. that's a bad example. ( laughter ). anyway, you'd have to be a real shyster. given the surrounding context of obama's remarks, including his "the point is" discussion, to make willful hay out of this wrath common singular plural demonstrative pronoun-- my shirt is gives me a nurple. why are you doing that? i'm being bullied by my-- i wonder which way the conservative pundits went with it. >> what's your reaction when you hear the president say, "it's not your hard work that made you successful. it's the government?" >> there's no question in my mind, he does not respect small business owners. >> then he turns around and dismisses the free enterprise system. >> mean, this is just grade school marxism that he's muttering. >> jon: yes! ( laughter )
grade school marxism! or as your second grade teacher might have referred to it, sharing. ( laughter ) ( applause ) guys! he clearly said before "you didn't build that "he was talking about building roads and privileges. it was in the speech. you really want to hang your entire campaign on a willful, out-of-context misunderstanding? >> the president has been out there. he's now got a political ad that is up in a number of the swing states where he says, "you know, i've been taken out of context. don't believe what mitt romney is saying." all right, here's what the president said that got him into trouble with the republicans. >> jon: all right, good on you, steve doocy. i made fun of you in the past as being a bit of a tool. ( laughter ). throw pillow of misinformation. disingenuous muppet-shaped
propaganda dude, my apologies. you're new going to play the unedited version showing the line immediately before the "you didn't build that line" the ones about the roads and bridges so thank you. >> here's what the president said that got him into trouble with the republicans. >> if you've been successful, you didn't get there on your own. you didn't get there on your own. i'm always struck by people who think, wow, it must be because i was just so smart. there are a lot of smart people out there. it must be because i worked harder than everybody else. let me tell you something-- there are a whole bunch of hardworking people out there. if you've got a business, you didn't build that. somebody else made that happen. >> jon: where was the middle part about the bridges and roads? you didn't even flash through it. you just had obama dissolve into dust like a bad vampire. that's not context. that's just different no
context. i think that might be disingenuous muppet shaped propaganda. >> meet the founders of cool blast lemonade, sisters seven-year-old clara and four-year-old eliza sutton. ( laughter ). >> jon: go on. >> how do you feel about the president saying that you needed help to start this business and just speak from-- speak from within. >> i would say that's rude because we worked very hard to build this business. but we did have help. >> and your help came from...? >> our help came from our investors, our dad and stepmom, along with other friends of the family. >> jon: cut the feed! cut the feed! ( laughter ) cut the feed! red eagle! captain jammies and little princess said they had help! they're going rogue!
( laughter ) so they had help from their families, literally, big brother. ( laughter ) look, the campaigns all like to have fun with gaffes, make it a big deal out of a misstatement is a great way to win a news cycle. "the private sector is doing fine. i like firing people. i'll transmit this information to vladimir. i real estate like firing people, especially poor ones. but this isn't a gaffe and mitt romney is not having a little fun with it. the deliberate misstating of obama's position is now the centerpiece of romney's entire campaigns. he's got signage, t-shirts, and this unrelenting ad. >> if you've got a business, you didn't build that. if you've got a business that-- you didn't build that. if you've got a business, that-- you didn't build that. >> jon: apply directly to the forehead. apply directly to the forehead. we get it. mr. romney hanging your attack on a person's slight greatical
misstep is what people do in an argument when they're completely ( bleep ) and they know they have no argument. i know you, mitt romney, would like this election to be a stark choice for the american people between obama's vision of a marxist state-run oligarchy and your simple ode to the freedom our founders envisioned, because given that choice you would... come really close. ( laughter ). but you're not running against this guy, strawman johnson. ( laughter ) there are absolutely differences in economic policy between and you the president that you could use to have a discussion about our economy that might even be productive for our future well-being. but that discussion is a matter of degrees not a matter of fundamental diametrically opposed world views. here's how i know-- mr. president and mr. romney, argue it out. >> if you were successful, somebody along the line gave you some help. >> i know that you recognize a
lot of people help you in a business. >> there was a great teacher somewhere in your life. >> your school teachers. >> government research created the internet so that all the companies could make money off the internet. >> there are a lot of people in government who help us and allow to us have an economy that works. >> somebody invested in roads and bridges. >> people who build roads. >> if you've got a business. >> you really couldn't have a business if you didn't have those things. >> you didn't build that. >> take that, mr. president ( cheers and applause ). >> jon: we'll be right
( cheers and applause ). >> jon: welcome back. with the election just over four months away, americanslet have the choice barack obama or sir william mitterschmide romnoscerous. it's easy to forget there could have been a different man in the white house. president herman cain. >> in october of 2011, herman
cain led the polls for the republican presidential nomination. tragically, america was denied a home in cain presidency but i sat down with mr. cain for a series of conversations to explore some of the tough decision he would have faced in office. tonight, energy policy. gas prices are strangling americans, sir. >> yes. >> let's sell some of the federal lands that contain newly discovered obtained... do we really need millions of acres of parks in order to say that we are environmentally friendly? >> reporter: how much can one family picnic? >> exactly. >> reporter: right. >> and in today's world where we
are a 24/7/365 information overload society, how much picnicking are the kids doing while texting while picnicking. that's what i'm talking about right there. we don't need as many parks. >> reporter: that's an ecological fact. if the environment didn't want us to drill for oil, sir, why did it make it so useful to power cars with, right? >> exactly. as you know, i'm a man of faith, and i believe that the all mighty put those resources here to be used the right way. >> and now the crisis. mr. president, you have built the biggest pipeline known to man. it connects all the wells that you have drilled on every single source of oil in america. you have reduced the price of gas down to 36 cent per gallon. everybody loves you.
>> it feels great because it benefitted the american people and it also benefitted the economy. >> reporter: mr. president, i have an incoming cable. the pipeline has explode explodn several spots. oil is spilling everywhere and it has devastated america's parks. gather those most affected and explain why their sacrifice is not in vain. ( laughter ). ♪ ♪ >> assemble. we have a disaster on our hands. we must contain it. we will contain it, but you must work with us in order to minimize the damage and accelerate the containment. 36 cents a gallon.
is a major accomplishiment. and we all benefit from that accomplishiment. i know that you have sacrificed much but until we get this contained, run. ( laughter ) ♪ ♪ >> jon: thank you. i read an article... well, i read the majority of an article online about how older people are becoming more and more antisocial, so i was really aggressive with my parents about joining facebook. my parents are up to 19 friends now? so sad. ♪ i have 687 friends. this is living. what!? that is not a real puppy. that's too small to be a real puppy. [ male announcer ] venza. from toyota.
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>> jon: welcome back. our guest tonight, nobel prize-winning economist, bestselling author, his new book "the price of inequality, how today's divided society endangers our future," please welcome to the program, joseph stiglitz. ( cheers and applause ) thank you for being here. >> nice to be here. >> jon: "the price of inequality." in this you very much argue that the basic law of supply and demand, the simplest iteration of economics is still a driver of economies, and yet, if i may, sir, you have given me a 300-page book,. 100 of the pages -- this is true-- are footnotes. ( laughter ). i ask you, sir, given the basic laws of supply and demand, that's what economists would call a ( bleep ) load of
footnotes where for me the demand is very, very little. ( laughter ). >> the supply was very great. >> jon: what drives you to write this book? >> inequality has really become one of the major problems facing our country. i don't know if most americans realize that we have become the most unequal of all the advanced industrial countries, and we've become the country of among the advanced industrial countries with the least equality of opportunity, so different from our myth of the american dream. >> jon: there are two things in there-- equality of opportunity versus equality of wealth. some would argue that equality of opportunity more important because the ability to reach that, we had a guy on the show, ed connard of bain capital who had written a book saying we don't have enough inequality because it will drive the people
with less to want more if they know the carried interest rate would be 15%. >> and they got lower taxes. >> jon: exactly. so is there not-- what do we not have, equality of opportunity? >> we have neither. the point is we don't have equality of opportunity. life chances of somebody-- a young person born in the united states is more dependent on the income and education of his parents than in any of the advanced countries for which we have data, much worse than even in old europe. >> jon: does that-- is that because-- here's-- okay. i am rich. ( laughter ). i am carried around this building by a team, and my feet never touch the ground. so people have ideal at me on
the web, "how can you criticize mitt romney for his wealth?" i don't care about wealth. what seems to be upsetting is institutionalizing the advantages that wealth gives you, creating a system that then shields that wealth from a proper tax rate, and from any kind of reinvestment into that infrastructure. can that be changed? is there the political will or anything that can do something about that? >> well, i think it can be changed because in other countries, things are different. you know, these are not the inevitable laws of economics. other countries have done same market forces at play, and they have less inequality, and more equality of opportunity. you know, market forces don't exist in a vacuum. we shape those market forces. >> jon: there is no unfettered free market. >> when we pass a bankruptcy law
the default swaps, credit derivatives that brought a.i.g. down, that say those get paid off before workers or anybody else in the event of bankruptcy but student loans can never be forgiven, even if the school gives you a lousy education, you're saddled with that for the rest of your life. that helps shape our economy and helps create more inequality. >> jon: has that institutional advantage always been in play or is that a more receipt thing? because it seems like what we've done to the economy is investment income, that's the income, baby. that's the good stuff. that's the resin. work income, earnings. nah, that's not as important. >> the nature of inequality in the united states has changed dramatically in the last 30 years and in ways that is both bad for our economy and, obviously, increased inequality. for instance, in the three decades after world war ii, the economy grew together, and it
grew much more rapidly than it did since 1980, where we've grown apart. so-- and we've grown more slowly. >> jon: but the idea is if you punish those at the top, the job creators, the wealth creators, then they'll stop doing it because, you know, spite, and that, you know, it is-- it is inevitably not an american principle to ask them to pay 39.6% instead of 35%. that's what stalin started with. ( laughter ). >> if you look at those who have made the most important contributions to society, the guys who did the basic ideas behind the computer, the most important advances in medicine, d.n.a., they didn't do it for money. and if you taxed them at 80%, they would have done what they did. so this notion that the
innovation depends on the tax rate i think is absurd. >> jon: when we come back, we'll go to commercial, we'll do a little bit on the web, we'll talk about how they have been so successful at creating this-- man, i love this phrase-- wealth incumbenciy, but this idea once you have wealth you get to not just play by a different set of rules, create a different set of rules. so we'll talk about that when we come back. "the price of inequality" is on the bookshelves at this very moment. joseph stiglitz. ( applause )